SOLUTION: Find the ending balance in an account that opens with $9,000, earns 2.5% interest compounded quarterly, and is held for 25 years. (Round your answer to the nearest cent.) $

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Question 607360: Find the ending balance in an account that opens with $9,000, earns 2.5% interest compounded quarterly, and is held for 25 years. (Round your answer to the nearest cent.)
$



Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

account that opens with $9,000, earns 2.5% interest compounded quarterly,

 and is held for 25 years.

A = 9000(1 + .025/4)^(4·25)

A = 9000%281.00625%29%5E100

a = $16,781.54